Bitcoin Forecast: Correction and Price Drop Underway
The price of Bitcoin rebounded from the supporting level of 60000 and formed the price range. It might potentially break through this support and enter a very strong resistance area formed between levels 69000 and 73800. After that, the price of this asset might undergo a correction and drop to the level of 49000. So, let’s observe what might happen next.
The price of the U.S. 10-year treasury bond is heading down, but its yield is going up. Currently, it is gearing toward 5%. This might turn into resistance, from which the price of this asset might undergo a correction and rise.
The price of the British pound has closely approached the supporting level of 1.2320, which has been tested many times in a row. The asset’s price is likely to either rebound from this level or break through and drop to the level of 1.21. So, let’s observe what the next price movement of this asset will be.
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